Coronation Fund Managers Ltd. Has $131.75 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Coronation Fund Managers Ltd. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 130.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,478 shares of the company’s stock after purchasing an additional 43,836 shares during the quarter. MercadoLibre comprises approximately 7.7% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 3rd biggest holding. Coronation Fund Managers Ltd.’s holdings in MercadoLibre were worth $131,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Planning Capital Management Corp grew its stake in MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its holdings in MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after acquiring an additional 5 shares in the last quarter. Strategic Blueprint LLC boosted its holdings in MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares in the last quarter. Nvwm LLC increased its holdings in shares of MercadoLibre by 0.5% during the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after acquiring an additional 6 shares in the last quarter. Finally, NBC Securities Inc. raised its position in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,996.65 on Monday. The stock has a market capitalization of $101.22 billion, a price-to-earnings ratio of 70.45, a PEG ratio of 1.06 and a beta of 1.62. The stock has a 50-day moving average of $1,831.14 and a 200 day moving average of $1,928.50. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Analysts Set New Price Targets

A number of research analysts have issued reports on MELI shares. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Citigroup decreased their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $2,244.69.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.